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JPMorgan Chase, N.Y. leaders celebrate 'topping out' of bank's new skyscraper HQ

The final steel beam is lifted at the JPMorgan Chase Tower "topping out" ceremony on Park Avenue in New York City on Monday. Photo by John Angelillo/UPI
The final steel beam is lifted at the JPMorgan Chase Tower "topping out" ceremony on Park Avenue in New York City on Monday. Photo by John Angelillo/UPI

Nov. 20 (UPI) -- JPMorgan Chase & Co. CEO Jamie Dimon joined political leaders of the city and state of New York on Monday for a "topping out" ceremony in the construction of the bank's new 60-story headquarters building.

They spoke to an assembled group of construction workers on the site of the project at 270 Park Ave. in midtown Manhattan, before a steel beam for the highest point of the 1,388-foot-tall skyscraper was hoisted into place.

Dimon thanked New York Gov. Kathy Hochul, New York City Mayor Eric Adams, the Metropolitan Transportation Authority, the architecture firm Foster & Partners and others in his brief remarks at the ceremony.

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But he reserved special praise for workers on the project.

"There are 15 unions involved in building this building, a total of 2,500 workers who will have worked on it by the time it is said and done," he said. "We are so proud of the beautiful thing you've built."

JPMorgan Chase CEO Jamie Dimon speaks at the "topping out" ceremony for bank's new skyscraper headquarters tower on Park Avenue in New York City on Monday. Photo by John Angelillo/UPI
JPMorgan Chase CEO Jamie Dimon speaks at the "topping out" ceremony for bank's new skyscraper headquarters tower on Park Avenue in New York City on Monday. Photo by John Angelillo/UPI

When the project is completed, the CEO said, "we're going to invite all the workers and the all families here for a barbeque so we can thank you in person for building the best building in the best city in the best country in the world."

Chase says the new building will house up to 14,000 employees, replacing an outdated facility designed in the late 1950s for about 3,500 employees. The effort is triggering additional economic activity of $2.6 billion for New York City and $3.6 billion for New York State overall, backers say.

JPMorgan Chase CEO Jamie Dimon, New York Gov. Kathy Hochul and New York City Mayor Eric Adams sit on the stage with other speakers at the JP Morgan Chase Tower "topping out" ceremony on Park Avenue in New York City on Monday. Photo by John Angelillo/UPI
JPMorgan Chase CEO Jamie Dimon, New York Gov. Kathy Hochul and New York City Mayor Eric Adams sit on the stage with other speakers at the JP Morgan Chase Tower "topping out" ceremony on Park Avenue in New York City on Monday. Photo by John Angelillo/UPI

The new skyscraper is slated for completion in 2025.

Hochul said the event marked a "glorious day" in the city, citing the role played by organized labor in constructing the new headquarters.

New York Gov. Kathy Hochul speaks at the JPMorgan Chase Tower "topping out" ceremony on Park Avenue in New York City on Monday. Photo by John Angelillo/UPI
New York Gov. Kathy Hochul speaks at the JPMorgan Chase Tower "topping out" ceremony on Park Avenue in New York City on Monday. Photo by John Angelillo/UPI

"I am so proud of you and this project," she said. "Now we look at that steel beam, turn around and look at that. That is a symbol, a symbol of greatness, a symbol of strength, a symbol of resiliency and the strength of our union movement."

She also thanked "business leaders like Jamie Dimon and JPMorgan Chase for believing in New York. Because without you investing and believing and rebuilding and building monuments to the skies, then we're not the greatest city."

New York City Mayor Eric Adams speaks at the JPMorgan Chase Tower "topping out" ceremony on Park Avenue in New York City on Monday. Photo by John Angelillo/UPI
New York City Mayor Eric Adams speaks at the JPMorgan Chase Tower "topping out" ceremony on Park Avenue in New York City on Monday. Photo by John Angelillo/UPI

"New York City isn't coming back, it IS back," Adams said in a social media post. "[JPMorgan] Chase has been a bedrock of our city's financial sector -- and so much more. Their new headquarters will create economic opportunity for New York City."